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How is Productization of services leveraging the services industry?

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ExpertsConsult LLC
How is Productization of services leveraging the services industry?

 

 

Services industry primarily requires all of the innovation and customer-centric service. This industry is compounded by the shift in the economic condition of the industry. The rapid adoption of technologies, digitization, wide adoption of smartphones, and changing consumer’s behaviour is driving the growth of the service industry.

The term productize refers to the process of developing or altering process, idea, skill, or services to make it marketable for sale to the public.

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Productization of services is defined as the packaging of technology products with managed services to deliver comprehensive & standardized offering to their clients. It is one of the breakthroughs which creates immense value to the customers. It helps in reducing the cost of customer acquisition, reducing resource dependency, and enhance business profits. It is one of the technologies which provides immense opportunity to tap the current technology trends in the market and convert some valuable clients. It is also an impressive way to turn a freelancing chance into an actual company.

One of the advantages of this business model is to make sense for potential customers. The power of productization of services lies with the benefit of service providers to deliver customized solutions, and gain calculated profits. It helps you to do things faster and reduces the operational time. It doesn’t require you to invest in building any software. The services within productized services are delivered using a pre-defined process within a stipulated timeframe. It is relatively a new idea in the world of e-commerce and digitalization.

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Few examples include design-as-a-service, marketing-as-a-service, coaching-as-a-service, and maintenance-as-a-service.

It is a pre-packaged consulting solution  for one specific problem. It allows you to understand the client’s requirements quickly. Benefits of productization are improved client experience; reduced marketing spends, more natural sales turnover, more comfortable to hire & retain employees.


 

 

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